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Similar to the popular trade-in program Best Buy ran for a weekend last May, the electronics retail giant is resurrecting the promotion through Sunday for old-gen iPhone owners looking to trade up.

Although the iPhone 5S is expected to launch as soon as next month, there are plenty of iPhone enthusiasts who would be happy to save $100 or more to upgrade to iPhone 5, the current flagship model.

Beginning Thursday (today) and lasting through Sunday, August 18th, iPhone 4 owners will receive a $100 Best Buy gift card that can be used toward the purchase of an iPhone 5 (a new 2-year contract with AT&T, Verizon, or Sprint is required). If you're trading in an iPhone 4S, you'll receive at least $200 off the purchase of an iPhone 5.

It is important to note, however, that Best Buy's trade-in program is NOT valid for T-Mobile and no-contract iPhone models.

As expected, the retailer also cautions that the value of the promotional amount a consumer receives is dependent upon the condition of the iPhone being traded-in. For example, iPhones that have suffered water damage or sport cracked screens will not be accepted.

But I can sell my iPhone 4 for 200/250$ still ? Lol
And I'm
Pretty sure I can grab an iPhone 5 with renewed contract for less
With out trading in.

I agree...but you pay less for the phone. 200 just starting out. Or trade in old phone and pay nothing or 100 at the most for the iPhone 5...

There are several ways of making this happen without best buy I know. Game stop bought my iPhone 4S for 200 bucks the other day with a semi working home button. You could take that route as well. Also Craigslist, eBay, ect.

And simple math says BEST BUY is no bargain. The two year cost of a contract is $500 more than just buying IPhone 5 no contract. Plus selling your clear ECN device on eBay is not hard. **** thinking those persons who bought stolen or broken iPhones off Craig's list with no return can now get an iPhone trade in. Thanks for promoting theft BEST BUY.

Just traded in my 16gb iPhone 5 for $310 at Best Buy. Also returned my mophie case for full credit. Already have a new phone, so used the store credit on a iPad mini and other stuff. I may have been able to sell it on eBay for more, but didn't want to mess with eBay's and PayPal's fees.